computational methods in econometrics

The computational properties of an econometric method are fundamentaldeterminants of its importance and practical usefulness, in conjunction withthe method’s statistical properties. Computational methods in econometricsare advanced through successfully combining ideas and methods in econometrictheory, computer science, numerical analysis, and applied mathematics.The leading classes of computational methods particularly useful foreconometrics are matrix computation, numerical optimization, sorting, numericalapproximation and integration, and computer simulation. A computationalapproach that holds considerable promise for econometrics isparallel computation, either on a single computer with multiple processors,or on separate computers networked in an intranet or over the internet.[...]